Doing Business

Utilities

The Electricity Authority of Cyprus (EAC) owns and operates three power stations with a total installed capacity of 1478 MW. The three power stations are Vasilikos Power Station (868 MW), Dhekelia Power Station (460 MW), and Moni Power Station (150 MW). The government has also approved the construction of a new gas-powered station in the Vasiliko Area.

The Electricity Authority of Cyprus (EAC) owns and operates three power stations with a total installed capacity of 1478 MW. The three power stations are Vasilikos Power Station (868 MW), Dhekelia Power Station (460 MW), and Moni Power Station (150 MW). The government has also approved the construction of a new gas-powered station in the Vasiliko Area. Two licences have been given to Power Energy Cyprus Ltd (PEC) to build and run a 230 Megawatt Gas Turbine Power station. Cyprus has six wind farms with a total of 92 turbines generating 153,900 kW.

Electricity tariffs are similar to those in other Western European economies. According to Eurostat (2017H2), the cost for electricity in Cyprus is €0.1826/ kWh (households) and €0.1392/ kWh (non-households) compared to €0.2048/kWh (households) and €0.1121/kWh (non-households) in the EU28. The discovery of natural gas in Cyprus’ Exclusive Economic Zone (EEZ) is expected to bring down costs in the long term. Water is provided by the Water Authority of Cyprus and charged quarterly at rates set by the individual municipalities. Cyprus currently operates six desalination plants.